On Thursday, Volvo Car Group (VOLCARb.ST) announced a smaller-than-expected drop in first-quarter operating profitability and said worldwide demand remained solid amid adverse macroeconomics.
Volvo Cars, majority-owned by China’s Geely Holding, reported operating earnings of 5.1 billion Swedish crowns ($494.63 million), exceeding Refinitiv’s mean projection of 3.6 billion.
The carmaker predicted “solid double-digit growth” in retail sales this year, barring severe supply interruptions.
